In response to the last bank in Okehampton closing, the town council is to pursue the option of a community banking hub.

A community banking hub is a shared banking space where multiple banks such as Lloyds or NatWest send staff on specific days of the week to serve their own customers.

The community banking hub would provide cash withdrawals and deposits, bill payments and account support and advice.

It was announced last month that Lloyds Bank, the last remaining bank in Okehampton will close in March 2026.

At an extra full Okehampton Town Council meeting on Monday, October 13 the council discussed the negative impact the closure will have on the growing town.

Members of the public who attended the meeting mirrored the council’s concern.

Shirley Smith, who works at the British Heart Foundation shop in Okehampton, said: “I bank at Lloyds and I do not use a computer so I feel I am being forced to bank online which I do not want to do. I would rather use a bank face-to-face so I’m worried where the closure of Lloyd’s bank will leave me.”

Lydia Ward, Okehampton resident, said: “I bank at Lloyds and I am aware that there is a very large population of elderly people that struggle with online banking. The staff at the bank are wonderful and there are so many shops that need to make cash deposits. Every time I go in it is exceptionally busy. We need to raise the roof about this and let Lloyds know that this is not on.”

It is understood by the council that the bank’s lease runs out in March and they do not wish to renew it.

Conservative MP Mel Stride and Okehampton Town Council have been in touch with LINK, a not-for-profit organisation that work to connect a reliable ATM network to every major bank and building society in the UK.

In response, LINK is recommending that an ATM, a cashpoint, be provided in Okehampton, ideally in a shop where staff can give those using it assistance if required.

Lloyds Bank is situated on Fore Street in Okehampton.
Lloyds Bank is situated on Fore Street in Okehampton. (Nilfanion)

There were concerns from councillors, however, that this would not go far enough, and that a Community Banking Hub should be provided.

Cllr Jan Goffey said: “We are the only bank in a huge area. Lloyds can be requested not to close until we have a banking hub somewhere in town because the post office cannot cope with the amount of customers coming in for cash and bank access. We must insist on a banking hub before Lloyds closes.”

Cllr Allenton Fisher said: “I think we should encourage the use of a hub. The hubs I have visited in the past work really well and it would bring all the banks back into Okehampton.”

Cllr Mark Richards said: “I have given this considerable thought and we will make a community banking hub happen. This is a fight we can win.”

The council is to West Devon Borough Council to come and work alongside Okehampton Town Council on the issue as it petitions to bring a community banking hub back to the town. It also wants someone from Lloyds to explain the reasons for the closure in person at a council meeting.